The best residential mortgage rates 22.10.21 | moneyfacts.co.uk

Moneyfacts.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfacts.co.uk will always be from news@moneyfacts-news.co.uk. Be Scamsmart.


Michelle Monck

Michelle Monck

Consumer Finance Expert
Published: 22/10/2021

There have been some movements this week in the longer-term fixed rates for remortgages, with Nationwide Building Society and NatWest/RBS adjusting their pricing away from the top of the charts. Santander and TSB now dominate the top rates for fixed rate remortgages.

Although we’ve highlighted the lowest rates across our mortgage charts, borrowers should always keep in mind that the lowest rate may not be the best, or most cost effective, deal for them. Instead, it is important to consider factors such as product fees and incentives when comparing mortgage deals, as these can have a significant impact on the cost of the mortgage. Consumers unsure of which deal is right for them should consider speaking to a mortgage broker, who will be able to provide advice on the best deal for their circumstances.

The best remortgage rates

Provider Rate Initial rate period Product fee  
Santander 0.84% fixed Two years £749 Find out more
TSB 0.84% fixed Two years £995 Find out more
TSB 0.94% fixed Three years £995 Find out more
Santander 0.99% fixed Five years £749 Find out more

This week the best rates for remortgages at 60% loan-to-value (LTV) are from Santander and TSB, with both banks offering the lowest two year fixed rate, TSB offering the lowest three year fixed and Santander the lowest five year fixed. While both banks offer these top mortgage rates they do differ in fees, with Santander charging £749 compared to TSB at £995. Santander offers 0.84% (3.0% APRC) fixed until 2 January 2024 and then reverts to 3.35% variable. They also have differing incentives, with Santander offering free valuation to a maximum of £1,190 for those in England, Wales and Northern Ireland or £95 towards valuation fees for those in Scotland, as well as £250 cashback on completion or free legal fees. TSB offers free valuation and legal fees. Here is a summary of the best rates and duration of the fixed terms:
The best two year fixed rate remortgages: Santander offers 0.84% (3.0% APRC) fixed until 2 January 2024, reverting to 3.35% variable. TSB offers 0.84% (3.2% APRC) fixed until 29 February 2024 reverting to 3.59% variable.
The best three year fixed remortgage from TSB offers 0.94% (3.0% APRC) fixed until 28 February 2025 and then reverts to 3.59% variable. It has a £995 product fee and has free valuation and legal fees.
The best five year fixed remortgage from Santander offers 0.99% (2.5% APRC) fixed until 2 January 2027 and then reverts to 3.35% variable. It has a £749 product fee and has free valuation and legal fees.

Compare Remortgages

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee  
Santander 0.89% fixed Two years £999 Find out more
TSB 0.89% fixed Two years £995 Find out more
HSBC 0.89% fixed Two years £999 Find out more
Nationwide Building Society 0.99% fixed Three years £999 Find out more
Santander 0.99% fixed Five years £999 Find out more

The lowest two-year fixed rate at 60% LTV in our moving home chart this week comes from Santander, which offers 0.89% (3.0% APRC) fixed until 2 January 2024, after which it reverts to 3.35% variable. This deal charges a £999 product fee. It comes with the incentive of a free valuation for properties valued up to £2.5 million and £250 cashback.
TSB also shares the top rate this week, offering 0.89% (3.1% APRC) fixed until 29 February 2024 reverting to 3.59% variable. This deal charges a £995 product fee. It comes with the incentive of a free valuation.
Nationwide Building Society again has the lowest three year fixed moving home mortgage rate at 60% LTV this week, offering 0.89% (3.0% APRC) fixed for three years and then reverts to 3.59%. charges £999 in product fees. It comes with the incentive of a free valuation, as well as a green reward of up to £500 cashback for eligible properties.
In the five year fixed rate moving home chart at 60% LTV, Santander has the lowest rate of 0.99% (2.5% APRC) fixed for five years, which then reverts to 3.35% variable. It charges £999 in product fees and comes with the incentive of a free valuation up to £1,190 for properties valued up to £2.5 million. There is also £250 cashback available.

Compare moving home mortgages

Compare the best mortgage rates for moving home on our charts.

The best first-time buyer mortgages

Provider Rate Initial rate period Product fee  
HSBC 1.74% fixed Two years E999 Find out more
Digital Mortgages by Atom 2.39% fixed Five years E1,500 Find out more
The lowest rate for first-time buyers with a 10% deposit this week is again from HSBC, which offers 1.74% (3.3% APRC) fixed until 31 January 2024, after which it reverts to 3.54%. This deal charges £999 in product fees and comes with the incentive of a free valuation.
Digital Mortgages by Atom Bank, has the lowest rate in our five year fixed first-time buyer chart this week. This deal offers 2.39% (3.2% APRC) fixed until 31 January 2027, which then reverts to 3.50% variable. It is available to first-time buyers with a 10% deposit. The deal charges £1,500 in product fees and comes with free valuation fees. This mortgage is only available from a mortgage broker. 

 

Compare first-time buyer mortgages

How to find the best mortgage deal

To find the best mortgage deal it may be worthwhile speaking to a mortgage broker, who will have access to all market deals and be able to highlight the best deals for your circumstances.
Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

house front

Cookies

Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy